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View Poll Results: What is an average middle class income?
$200K-$250K 1 2.22%
$150K-$200K 0 0%
$125K-$150K 3 6.67%
$100K-$150K 3 6.67%
$75K-$100K 11 24.44%
$50K-$100K 27 60.00%
More than $300K 0 0%
Voters: 45. You may not vote on this poll

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Old 09-14-2012, 06:30 PM  
BigRedChief BigRedChief is offline
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Romey says an average middle class income is $200,000 - $250,000 true or not?

http://abcnews.go.com/blogs/politics...d-mitt-romney/

GEORGE STEPHANOPOULOS: You know Democrats are going to be wanting to get much more detail from you on how youíre going to pay for your tax cuts. Weíve heard that at the Democratic Convention. President Clinton said your math doesnít work. I know you dispute what President Clinton said and what the Democrats that say that youíre going to have a $2,000 tax hike on middleclass families. I know you dispute that. You cite your own studies. But one of the studies you cite by Martin Feldstein at Harvard shows that to make your math work, it could work, if you eliminate the home mortgage, charity, and state and local tax deductions for everyone earning over $100,000. Is that what you propose?

MITT ROMNEY: No, thatís not what I propose. And, of course, part of my plan is to stimulate economic growth. The biggest source of getting the country to a balanced budget is not by raising taxes or by cutting spending. Itís by encouraging the growth of the economy. So my tax plan is to encourage investment in growth in America, more jobs, that means more people paying taxes. So thatís a big component of what allows us to get to a balanced budget.

GEORGE STEPHANOPOULOS: But his study, which youíve cited, says it can only work if you take away those deductions for everyone earning more than $100,000.

MITT ROMNEY: Well, it doesnít necessarily show the same growth that weíre anticipating. And I havenít seen his precise study. But I can tell you that we can lower our ratesĖ

GEORGE STEPHANOPOULOS: Well, you cited the study, though.

MITT ROMNEY: Well, I said that there are five different studies that point out that we can get to a balanced budget without raising taxes on middle income people. Let me tell you, George, the fundamentals of my tax policy are these. Number one, reduce tax burdens on middle-income people. So no one can say my plan is going to raise taxes on middle-income people, because principle number one is keep the burden down on middle-income taxpayers.

GEORGE STEPHANOPOULOS: Is $100,000 middle income?

MITT ROMNEY: No, middle income is $200,000 to $250,000 and less. So number one, donít reduceĖ or excuse me, donít raise taxes on middle-income people, lower them. Number two, donít reduce the share of taxes paid by the wealthiest. The top 5% will still pay the same share of taxes they pay today. Thatís principle one, principle two. Principle three is create incentives for growth, make it easier for businesses to start and to add jobs. And finally, simplify the code, make it easier for people to pay their taxes than the way they have to now.
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Old 09-14-2012, 11:21 PM   #76
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And anyone who disagrees with you is a shill or partisan quack.
Not true. But you have certainly become one.
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Old 09-14-2012, 11:23 PM   #77
Guru Guru is offline
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Thats okay you live in Kansas. You dont need a living wage there. Everything is so cheap.
heh. I wish it were cheap. I could get off my soapbox then.
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Old 09-14-2012, 11:26 PM   #78
Mile High Mania Mile High Mania is online now
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I think it all depends on how many people are in your family honestly.

Opening up a can of worms here, but -

A single person making $50k with no dependents can live large... throw in a wife and 2-3 kids, I don't see how its done without struggling. I would put 'middle class' in the 100-150k range quite honestly. Really depends on WHERE you live and the dependents.
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Old 09-14-2012, 11:26 PM   #79
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I don't see that he said average middle class is $250k. It seems to me he's saying anything below that is middle class, ie, he doesn't consider them wealthy.



It's very difficult across the nation to use a random number and agree on how well the person making that wage lives because there are so many factors. $50k in some areas will be above the average wage and with low cost of living is going to be boarderline "upper crust" of that community whereas in a major metropolitan area like San Fran....it's probably not a comfortable living at all.
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Old 09-14-2012, 11:27 PM   #80
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Guess I am officially poor now.


Are you posting from an iBindle?
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Old 09-14-2012, 11:29 PM   #81
DaneMcCloud DaneMcCloud is offline
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Quote:
Originally Posted by Mile High Mania View Post
A single person making $50k with no dependents can live large
Not in a city like Los Angeles, New York, Chicago, etc.
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Old 09-14-2012, 11:30 PM   #82
DaneMcCloud DaneMcCloud is offline
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.it's probably not a comfortable living at all.
It's comfortable if you like living an a 300 square foot space sharing a wall with crackheads.

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Old 09-14-2012, 11:30 PM   #83
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My household income is about 160k, since its just me and the wife we do pretty well. That said, we are not the upper class. I drive a piece of shit car, the wife's car is nothing special, I pay a $hit ton in taxes, and while my life is comfortable, we don't have that much disposable income.
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Old 09-14-2012, 11:31 PM   #84
Iowanian Iowanian is offline
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So what is the magic number for a family of 4 to "live large" in LA? A nice neighborhood in any major metro area.
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Old 09-14-2012, 11:32 PM   #85
Aries Walker Aries Walker is offline
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Okay, so all of this other stuff aside, the answer to the thread title is not true - because that's not what Romney said. He said that the upper edge of middle class is between $200K and $250K. The thread title says that he said that middle class is between $200K and $250K. Not the same thing.

So, numbers. This site I use - Sperling's Best Places - has a city comparison guide, which includes a section on comparing the economics of just about any city in the US. With 100 being the average, Kansas City has a 94 for cost of living, while Indianapolis (where I live, at least for now) has a 90. Boston has a 149.

Anyway, Kansas City's median income is a little over $44,000 per household. Boston's is only a little above 50, despite the much higher cost of living. I find it a real stretch to classify someone making about four times that as middle-class.
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Old 09-14-2012, 11:32 PM   #86
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It's comfortable if you like living an a 300 square foot space sharing a wall with crackheads.

WAIT A SEC? Are these crackhead strippers? Are they hot? Let's not be hasty!
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Old 09-14-2012, 11:34 PM   #87
DaneMcCloud DaneMcCloud is offline
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I don't see that he said average middle class is $250k. It seems to me he's saying anything below that is middle class, ie, he doesn't consider them wealthy.
All of this stuff confuses me. I have no idea what people consider to be wealthy. It always seems like to me, no matter how much someone earns, it's never enough and even those that earn $500k or more don't consider themselves wealthy.
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Old 09-14-2012, 11:35 PM   #88
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Originally Posted by Aries Walker View Post
Okay, so all of this other stuff aside, the answer to the thread title is not true - because that's not what Romney said. He said that the upper edge of middle class is between $200K and $250K. The thread title says that he said that middle class is between $200K and $250K. Not the same thing.

So, numbers. This site I use - Sperling's Best Places - has a city comparison guide, which includes a section on comparing the economics of just about any city in the US. With 100 being the average, Kansas City has a 94 for cost of living, while Indianapolis (where I live, at least for now) has a 90. Boston has a 149.

Anyway, Kansas City's median income is a little over $44,000 per household. Boston's is only a little above 50, despite the much higher cost of living. I find it a real stretch to classify someone making about four times that as middle-class.
As has been pointed out.. HOUSEHOLD is the key. And as I stated it also depends on if both parents in the household work. Ton of factors that make (as Rain Main pointed out) the concept of "middle class" outdated and virtually useless as applied today using salary as the only factor.
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Old 09-14-2012, 11:36 PM   #89
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So what is the magic number for a family of 4 to "live large" in LA? A nice neighborhood in any major metro area.
I guess that would depend on your definition of "large". If you can give more specifics (size of the house, cars, vacation, savings, number of dinners out in nice restaurants, etc.) I could give a more accurate answer.
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Old 09-14-2012, 11:36 PM   #90
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All of this stuff confuses me. I have no idea what people consider to be wealthy. It always seems like to me, no matter how much someone earns, it's never enough and even those that earn $500k or more don't consider themselves wealthy.
exactly. only the extreme rich or extreme poor consider themselves to be so. EVeryone else "thinks" they are middle class (for the most part)

If they are all right then we have a huge middle class in the US!
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